August 2018
TERRAMIN TALA HAMZA DFS PRESENTATION
Investor Presentation
Richard Taylor | CEO
2
Disclaimer
The material contained in this presentation has been prepared by Terramin Australia Limited (Terramin). It is current as at the date of this presentation.
It contains information in a summary form and should be read in conjunction with Terramin’s other periodic and continuous disclosure announcements to
the Australian Securities Exchange (ASX) available at www.asx.com.au. An investment in Terramin shares is subject to known and unknown risks, many of
which are beyond the control of Terramin. In considering an investment in Terramin shares, investors should have regard to (amongst other things) the risks
outlined in this presentation and in other announcements and disclosures made by Terramin to the ASX. This presentation contains statements, opinions,
forecasts and other material based on various assumptions which may or may not be correct.
The information contained in this presentation does not take into account the investment objectives, financial situation or particular needs of any recipient
and is not financial advice or financial product advice.
To the extent permitted by law, Terramin, its directors, officers, employees, agents, advisers and persons named in its presentation:
• give no warranty or guarantee as to the accuracy or likelihood of fulfilment, any assumptions upon which any part of this presentation is based
or the accuracy, completeness or reliability of the information contained in this presentation;
• accept no responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this
presentation.
Competent Person Statement
The information in this presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Eric Whittaker, a
Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Whittaker is an employee and Principal Resource
Geologist of Terramin Australia Limited. Mr Whittaker has sufficient experience that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves’. Mr Whittaker consents to the inclusion in the report of the matters based on his information
in the form and context in which it appears.
The information in this report that relates to Ore Reserves is based on information compiled or reviewed by Mr Luke Neesham, a Competent Person who is
a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Neesham is Principal Mining Engineer for GO Mining Pty Ltd a consulting
firm engaged by Terramin Australia Limited to prepare mining designs and schedules for the Tala Hamza Feasibility Study. Mr Neesham has sufficient
experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.
Mr Neesham consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Aspects of the information used as inputs to or generated as part of the Feasibility Study associated with the Mineral Resources and Ore Reserves Estimates
rely upon information prepared by parties other than the Competent Persons and outside of their areas of expertise. The associated documentation has
been reviewed and utilised by the Competent Persons in compiling the Mineral Resources and Ore Reserves Estimate and Table 1 commentary.
Forward Looking & Competent Person Statements
3
Corporate Update
Corporate Snapshot - 31 July 2018
Share on issue 1,869,601,371
Market Cap $206M @ $0.11/share
Liquidity 12 Month - 120,735 shares (0.01%)
Enterprise Value $220M
5 Year Share Price Snapshot Largest Shareholders - 31 July 2018
8.1%
3.6%
26.5%
3.8%
10.6%
14.2%
33.2%
Asipac Group Pty Ltd
Citicorp Nominees Pty Ltd
Tronic Enterprise
Development Ltd
HSBC Custody Nominees
(Australia) Ltd
JP Morgan Nominees Aust Ltd
China Non-Ferrous Metal
Industry's Foreign Engineering
& Construction Co Ltd
Other
Board and Management
Feng Sheng Executive Chairman
Michael Kennedy Non-Executive Vice-Chairman
Angelo Siciliano Non-Executive Director
Kevin McGuinness Non-Executive Director
Wang Xinyu Executive Director
Richard Taylor CEO
Simon Iacopetta CFO / Company Secretary
4
Tala Hamza Highlights
• Tala Hamza has a projected mine life of 21 years
• Deposit is open to the south and east with near mine exploration potential
• Tala Hamza is a high grade zinc and lead operation
• Concentrate production will be significant in global terms
• Terramin owns 65% of the WMZ joint-venture
• Strong joint venture partners in state-owned ENOF and ORGM
• Compelling economics from initial project
• Optimisation potential from already identified expansion cases
Long life
High grade
& large
scale
Terramin
65% &
control
Robust
economics
• Located in the heart of the Mediterranean
• Close to major infrastructure, including ports, roads and rail
Strategic
advantage
5
Mr Feng Sheng
Executive Chairman – Appointed 17 April 2013
Mr. Sheng is the Chairman of Melbourne based Asipac
Group. Mr. Sheng has been involved in the investment
sector for more than 15 years, mainly in the areas of
property and resources. Mr. Sheng is the Vice Chairman
of the Australia China Business Council (Victoria
Mr Michael H Kennedy BComm (Economics)
Non-Executive Deputy Chairman
– Appointed 15 June 2005
Mr Kennedy has enjoyed a 40 year career in the non-
ferrous mining and smelting industry, and has held a
number of senior marketing and logistics roles with the
CRA/RTZ Group, managing raw material sales.
Mr Wang XinyuExecutive Director – Appointed 2 March 2017
Mr Wang is a vice president of NFC and is currently a
director of Industrial Construction Corporation LLC
(Mongolia), China Nerin Engineering Co. Ltd and NFC India
Pvt. Ltd. Mr Wang has project management experience in
a number of smelting and mining operations in the Middle
East and Central Asia.
Board & Management
Mr Kevin McGuinnessNon-Executive Director – Appointed 17 April 2013
Mr McGuinness is a finance executive with more than 20 years
of experience as a director and in executive management with
ASX listed and private companies in the mining, medical equipment
industries and not-for-profit organisations. Mr McGuinness was
previously the Chief Financial Officer of Exact Mining Services.
Mr Angelo Siciliano FIPA, Registered Tax Agent, BBus
Non-Executive Director – Appointed 2 January 2013
Mr Siciliano has more than 20 years’ experience as an accountant in
the property sector and financial accounting. Mr Siciliano is the
Chief Financial Accountant of Asipac Group and for the last 20 years
has owned and managed an accounting practice predominantly
focussing on taxation and business consulting. Mr Siciliano is a
Fellow of the Institute of Public Accountants.
Richard TaylorChief Executive Officer
Richard is a mining executive with more than 15 years’ experience
in senior international and resource sector roles. He was most
recently Managing Director of PanAust Ltd’s Asia business
subsidiary, Phu Bia Mining Limited.
Simon lacopettaChief Financial Officer/Company Secretary
Simon is a mining executive with broad experience in corporate
finance and financial management functions in the resources and
professional services sectors. He was most recently Chief Financial
Officer of ASX listed gold miner Ramelius Resources Limited.
Board & Executives
6
Terramin will become a globally diversified top 5 base metals company through its first-mover
advantage in Algeria and strengths in stakeholder engagement and environmental stewardship
Vision & Values
Acting in a manner that is compliant
with regulatory, safety and
environmental standards
TrustAmbition
Vision
Shared success
Seeking new and innovative
opportunities to develop
and grow Terramin
Working with others, being a
member of a high performing team
Behaving with honesty
and acting with integrity
Building shareholder
confidence
Shaping perception
Listening to others
Treating fellow employees
with respect
A solutions orientated approach
and accountability for results
7
A core value of Terramin is safety and sustainability, particularly acting in a manner that both
complies and exceeds regulatory, safety and environmental standards.
Terramin Sustainability
Sustainability Program
• Mining baseline studies covering
- water sources (ground and surface water)
- soil and land quality
- air quality (noise and dust)
- ecosystems
- local community and demographics
• Developing design and management measures to
minimise impacts for all projects
• Ensuring environmental management systems
comply with all regulations and commitments
• Developing approvals for key projects
• Continual monitoring and review of environmental
data and reporting to government agencies and
the public
Baseline surveys and monitoring at Tala Hamza
8
Terramin actively engages with communities in Algeria through formal government processes as well
as employing predominantly from the local area and conducting hundreds of informal interactions
Stakeholder Engagement
Terramin Approach
• All Projects have a Community Engagement Plan
• CEP clearly identifies key stakeholders within the
community
• Outlines the framework for how Terramin engages
with the stakeholders during all stages of
development, operation and ultimately closure
• Enhances and encourages positive relations
between all parties
• Clearly disseminates information about the
company’s plans, projects, activities and potential
impacts, both adverse and positive
• Details how this information flow will be achieved
• Manages the identification and response to issues
raised by stakeholders.
Community Participation in Tala Hamza
Biodiversity Monitoring
Farming communities in the local area of Tala Hamza and Oued Amizour
Bejaia and local port surrounds
9
Tala Hamza is one of the largest undeveloped zinc & lead mines in the world and an important part
of future supply geared towards meeting projected increases in global zinc demand next decade
Tala Hamza Overview
Overview
• World class resource containing
3.5 million tonnes of zinc and lead
• Global resource1 of 53.0 million tonnes
at 6.6% zinc plus lead.
• Joint venture with Algerian
government owned entity (65%
Terramin).
• Infrastructure available including deep
water port and international airport.
• Low operating cost due to availability
of low cost power and fuel.
• Young educated workforce available.
1. As per Tala Hamza DFS 2018
10
Infrastructure
The Tala Hamza Deposit is located close to the Mediterranean coast, within close proximity to major
roads, rail, air, energy & port facilities. The mine site is close to the township of Bejaia and will be
served by a drive in drive out workforce underpinned by Terramin’s local recruitment policy.
11
Why Zinc? Why Now?
Globally zinc and other base metals are entering a period of supply side restrictions as old mines
close, head grades fall and new mines face permitting and approval delays leading to high prices
2000
7000
12000
17000
22000
1990 1995 2000 2005 2010 2015 2020 2025 2030
Probable (bankable feasibility) Projects
Probable (financing) Projects
Possible Mine Life Extensions
Base Case Production Capability
Requirement for Zinc Mine Production
kt Zn
0
50
100
150
200
250
300
1960 1970 1980 1990 2000 2010 2020 2030
Nominal $
Real $
US
Ce
nts
pe
r lb
Source: Wood Mackenzie
LME Zinc Prices Sources of Future Mine Production
Nominal Real
1960 - 69 12 93
1970 - 79 29 141
1980 - 89 43 101
1990 - 99 51 87
2000 - 09 73 92
2010 - 19 112 118
2020 - 40 151 124
12
Galvanising and construction are the dominant first- and end-uses of zinc. Urbanisation and
industrialisation will remain the most significant force behind global zinc consumption. The
developing world will drive consumption and, as a result, galvanising will remain the main end use.
Growth in Galvanising
Source: Wood Mackenzie
11%
9%
13%
59%
5%
2%Galvanizing
Die-casting alloys
Brass semis & casting
Oxides & chemicals
Semi-manufactured
products
Misc
First-use
16%
7%
21%
50%
6%
Construction
Transport
Infrastructure
Industrial machinery
Consumer products
End-use
13
Tala Hamza is one of the largest undeveloped zinc & lead mines in the world and an important part
of future supply geared towards meeting projected increases in global zinc demand next decade
Tala Hamza – DFS Scope Changes
Evolution of the Project
• DFS 2010 saw Terramin examine large scale
bulk tonnage block cave mining method
• Block caving was unacceptable to Terramin’s
Algerian partners ENOF and ORGM
• Underhand Drift and Fill (UDF) allows for
more selective mining and does not sterilise
any areas of the deposit allowing for later
mining of lower grades
• Reduction in surface infrastructure and
location of all assets in one valley
substantially reduced pre-production capex
• Trade-off with higher operating costs
• Opportunities remain to be explored to
increase mining efficiencies during front end
design and optimisation processes
ComparisonPFS
2010 1
DFS
2010 1DFS
2018 2
Production Conc. Kt - LOM ave 425 155
Pre-Production Capex (US$M) $285 $579 $341
Total Tonnes Mined Mt 25 40 26
Zinc & Lead Metal in Conc. Mt 1.41 2.04 1.8
Tonnes Treated Mtpa 2.0 4.0 1.4
Unit Ops Cost US$/t $25.3 $19.6 $63.5
C1 Cash Cost US cents/lb payable zinc 41.5c 32.2c 52.7c
1 As per DFS Roadshow Presentation released to ASX 12 October 2010
2 DFS 2018 financial numbers are in real terms
14
Tala Hamza – DFS Capital Costs
Capital Costs
• Mining and processing infrastructure
have been centralised in a single valley
• Mining decline optimised to reduce
initial decline concepts
• Tailings dam removed and replaced
by Cement Paste Backfill (CPB) and
Cake Storage Facility (CSF)
• Processing plant utilises gravity feed to
reduce opex costs
• Port and transport facilities minimised
with ‘rotatable container’ - ‘rotainer’ model
• Project footprint minimised to reduce
land access costs
1 AUD: USD FX 0.76
2 DFS 2018 financial numbers are in real terms
Project CAPEX 2 DFS 1 US$M
2018
DFS 1 AU$M
2018
Direct Capital
Mining 96.9 127.5
Processing Plant & Surface Infrastructure 186.3 245.1
Total Direct Capital 283.2 372.6
Total Indirect Capital 58.22 76.7
Total Pre-Production Capital (Direct & Indirect) 341.4 449.2
Total Sustaining Capital 144.4 190.0
Total Life of Mine Capital 485.8 639.2
15
Tala Hamza – Key Financials
2018 DFS 4
Key Financial Metrics
Base Case3 High Case
Nominal Nominal
Commodity Price Metrics
Zinc price - LOM average US$1.25/lb US$1.50/lb
Lead price - LOM average US$1.05/lb US$1.11/lb
Cost Metrics
C1 Operating Costs - LOM average US$0.53/lb US$0.55/lb
All-in Sustaining Costs (AISC) - LOM average US$0.61/lb US$0.64/lb
Financial Metrics
Discount rate 8.0% 8.0%
Start-up-capital costUS$341M
(A$449M)
US$341M
(A$449M)
Sustaining capital costUS$144M
(A$190M)
US$144M
(A$190M)
NPV8 Post-tax nominal 1 2 US$303M
(A$399M)
US$553M
(A$728M)
IRR Post-tax nominal (%) 1 14% 19%
Free cash flow - Post tax nominal 1 US$1.5B
(A$2.0B)
US$2.1B
(A$2.8B)
Payback Period 9 years 7 years
1 NPV and IRR assume a 2 year pre-production capital work program
2 NPV is pre-financing
3 Long term Base Case commodity pricing assumptions are derived from Woods Mackenzie forecasts at Jun-18. Exchange rate assumption is AUD/USD FX 0.76
4 DFS 2018 financial numbers are in real terms unless otherwise noted
16
Resources, Reserves and grade data sourced from latest company announcements
Market capitalisation as at 30 June 2018
Tala Hamza is competitive with peer projects at the pre-production stage and the project
presents attractive exposure to zinc and lead production over the next two decades
Terramin Strategy – Zinc Peers
Simon to update with
Zinc peers
-
100
200
300
400
500
600
700
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
Ironbark
(Citronen
Resource)
Terramin
(Tala Hamza
Resource)
New Century
(Century
Tailings
Reserve)
Terramin
(Tala Hamza
Reserve)
Heron
(Woodlawn
Resource)
Red River
(Thalanga
Resource)
Zinc of Ireland
(Kildare
Resource)
Consolidated
Zinc
(Plomosas
Resource)
Metals Australia
(Manindi
Resource)
A$
Millio
ns
Me
tal T
on
ne
s M
illio
ns
Contained Metal Tonnes v Market Cap
Insitu Metal 100% Tala Hamza Market Cap 65% Tala Hamza
17
The Tala Hamza Deposit remains open in
multiple areas. Land access achieved through
the grant of the Mining Lease opens up the
opportunity for a second access, maintain
mine life and support expansion
of the processing plant.
Expansion Case 1: Increase Mining Rate
OA083
OA095OA076
TH039
704150E
Drill Pb+Zn%
Unfinished business
• Tala Hamza mineralisation is open to the east
• Historic eastern most holes only intersected
the upper lode
• WMZ drillhole TH039, eastern most hole to
intercept the deeper lode
• TH039 intercepted from 381m, 106.4m @ 5.6% PbZn
• includes 413m, 5m @ 14.48% PbZn
• and from 436m 12.1m @ 11.48% PbZn
18
The Tala Hamza District is heavily mineralised. There are a number of nearby under explored zinc targets that
provide the potential for conveying or haulage to a centralised processing hub at the Tala Hamza Deposit.
Expansion Case 2: Near Mine Deposits
19
Algerian environmental and social concerns ruled out block caving and sub-level caving. The revised
DFS looked at alternate methodologies to cater for poor rock quality and water management
Mining & Waste Management
Mining Method
• Tala Hamza deposit is deep (greater than
500 metres)
• Early works focus on decline development
and accessing early ore mineralisation
• Mining method recommended by NFC and
ENFI adapted from nickel and coal
operations in China and Australia
• Mining method limits production output and
requires multiple faces to be in operation at
any time
• Opportunities to optimise once permitting
completed and land access is available
0 100Metres
20
UDF was selected as an alternative to block caving and is required to deal with the poor quality
of rock within the mine area. Tailings are blended with concreting agents to fill and stabilise voids
Mining Method: Underhand Drift & Fill (UDF)
• Underhand drift and fill (UDF) mining is a technique
similar to the cut and fill mining method often used
in narrow vein deposits.
• UDF permits mining in low strength or highly
stressed rock types and improves control in difficult
ground conditions.
• The main difference to narrow-vein is that instead of
cuts along the vein, a lattice of drifts, also referred to
as stopes or cells are mined alongside each other
across a massive ore body
• Conventional cut and fill or overhand cut and fill, is a
bottom up mining method where the first level is
extracted and filled and then the consecutive level is
mined by working on top of the fill to progress
mining.
• Underhand mining is where a cemented fill is used
in combination with steel reinforcing, allowing
mining to occur beneath the fill.
21
Process Plant Layout & Design
The DFS 2018 maintains the same standard process plant design concept as DFS2010 with the
exception of the introduction of dry stack tailings storage and use of cement paste backfill
22
Tala Hamza processing will utilise conventional flotation technology. Process plant infrastructure
has been consolidated entirely within Valley B and provides scalability options going forward
Process Plant Layout & Design
The process plant design has a
small footprint ad maximises the
local land form to achieve
efficiency within the process
ROM Crusher & stockpile
SAG & Ball Mill
Lead & zinc flotation
Tailings thickening
Concentrate filtration & storage
Reagents
23
Trucking containerised concentrate to the Port of Bejaia has been chosen as the most efficient
method. Rotatable containers avoids additional capex at the Port of Bejaia.
Transportation & Logistics
Rotatable containers stacked
at port awaiting ship loadingContainer in process of ship loading Port of Bejaia
24
• Competitive cost structure for new projects
• Low labour costs and educated workforce
• Access to reliable and cost effective port and energy sources
• Low pre-production capital cost
• Starter project for broader regional development potential
• Infrastructure contained within one valley
• Spare capacity and potential to increase throughput
• No tailings dam required
• Standard flotation technology
• National highway to deep water port
• Grid electricity
• Proximity to Bejaia requires no camp facilities
Project Benefits
Cost 2nd
Quartile
Low Capex
Simple
Processing
1st Class Infrastructure
25
New management team has been appointed with a clear pipeline of activities to deliver
on Terramin’s base and precious metals strategies. Current status:
Tala Hamza – Forward Looking Plan
Formal submission of the DFS to the Government of Algeria01
Wilaya (local administration approvals)02
Land access and acquisition of sites designated to host infrastructure03
Optimisation and FEED (Front End Engineering and Design) works04
Early works road access and administration establishment05
Establishment of owner’s team and EPCM06
26
Timeframes are for indicative purposes only. The project has been delayed while working with the
Algerian authorities to address environmental and social aspects. Timeframes may extend.
Tala Hamza – Indicative Time Frames
Approvals & Permitting01
Early Works and FEED02
EPCM03
Construction04
2018 2019 2020 2021
WE ARE
HERE
27
Terramin Demerger of Gold Assets
Terramin has announced a strategic review looking at the demerger of its precious and base metals
business. The focus of today’s presentation is the South Australian gold assets:
28
Bird in Hand Gold Project has significant exploration upside – deposit open at depth and historic
mines highlight the potential along strike. Current Bird in Hand Resource stands at 252,000 ounces.
Bird-in-Hand – Exploration Upside
Planned
Infill drilling
Planned Extension
drilling
29
The Bird-in-Hand mine will be one of the highest grade mines in Australia. Regional exploration
will focus on similar high-grade opportunities identified from historical 19th Century workings
Bird-in-Hand – High Grade Potential
1. Aurum Analytics March Quarter 2018 - Final Report. Bird in Hand Resource grade, remaining reflects quarterly production grade.
0
2
4
6
8
10
12
14
16
18
Fost
erv
ille
Gw
alia
Bir
d in
Ha
nd
Nic
ols
on
s
Wa
ihi
Pe
nn
y's
Fin
d
Ag
ne
w L
aw
lers
Ta
na
mi
He
ra
Cra
cow
Mt
Ca
rlto
n
Jun
de
e
Gra
nn
y Sm
ith
Mo
un
t M
on
ge
r
De
fle
cto
r
Ka
lgo
orl
ie O
ps
Da
rlo
t
Ch
alle
ng
er
Sun
rise
Da
m
St I
ves
Ca
rosu
e D
am
To
min
gle
y
Mu
ng
ari
Mt
ma
gn
et
Op
s
Ce
ntr
al M
urc
his
on
Ka
lgo
orl
ie
Sou
th K
alg
oo
rlie
Tro
pic
an
a
Fort
nu
m
Th
un
de
rbo
x
Nu
llag
ine
Hig
gin
svil
le
Ma
tild
a-W
ilu
na
Mt
Ra
wd
on
Du
keto
n S
ou
th
Ra
ven
swo
od
Ed
na
Ma
y
Co
wa
l
Ca
dia
Ma
cra
es
Du
keto
n N
ort
h
Te
lfe
r
Bo
dd
ing
ton
Ern
est
He
nry
Gra
de
1 (
g/t
)
30
Terramin has a pipeline of high grade potential gold targets that will form the basis of its
aspirational target of 1m Oz in resource from existing tenements and potential acquisitions.
Terramin Exploration Pipeline – Pathway 1m Oz
252k Oz Resource
500k Oz Planned Resource Drilling
750k Oz Advanced Exploration
1m Oz Targeting
Bird inHand
BIHDeeps
TheRidge
PipelineLadyJane
Kap 2 Kap 3
MP 1
Cam 2
AngasNorth
TheSlopes
PfeifferWild
Horse
Black-bird
TheBrind
BirdEst
31
Terramin is in the right place at the right time and with the right projects and people
to capitalise on a strong price environment for its key commodities
Reasons to Invest in Terramin
• Zinc & lead historic
high levels
• Gold in AUD at record prices
• Strong long term
fundamentals
Right Commodity
• Algeria an emerging
mining jurisdiction
• First mover advantage
• Multiple near mine targets
• High grade gold targets
• Low opex
Right Assets
• Significant base & precious
metals experience
• Long association with the
projects
• Strong shareholder support
Right People
32
For further information please contact:
Contact Details
Richard Taylor
Chief Executive Officer
Simon Iacopetta
Chief Financial Officer
Main Office
Unit 7, 202-208 Glen Osmond Road,
Fullarton, Adelaide
South Australia, 5063
T +61 (0) 8 8213 1415
F +61 (0) 8 8213 1416
terramin.com.au
33
Annex: Tala Hamza Resources & Reserves
2009 Resource
Tala Hamza
Terramin
Interest (%)
Measured + Indicated Resource Inferred Resource Total Resource
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tala Hamza - 51.1 4.87 1.27 17.5 3.7 0.6 68.6 4.6 1.1
Total - 51.1 4.87 1.27 17.5 3.7 0.6 68.6 4.6 1.1
Terramin Share 65% 33.2 4.87 1.27 11.4 3.7 0.6 44.6 4.6 1.1
1 November 2009 Tala Hamza Resource was prepared and reported in accordance with the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves,
December 2004 (JORC Code 2004).
2 Resource Estimate assumed the bulk mining method of block caving.
3 Resource classification; Measured - drill spacing < 50 m, Indicated - drill spacing 50 to 75 m, Inferred – drill spacing +75m.
4 Estimated at a nominal 2.5% ZnEq cut-off for the Measured and Indicated Resources with internal waste included (~approximately 8Mt @ 1.9% Zn + Pb).
5 Zinc Equivalence formula %ZnEq = %Zn + 0.59 x %Pb.
6 Inferred Resource is at a 2.5% zinc equivalent cut-off within the 1% lead + zinc outline.
7 The 2009 Resource was inclusive of Reserves
2018 Resource
Tala Hamza
Terramin
Interest (%)
Indicated Resource Inferred Resource Total Resource
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tala Hamza - 44.2 5.54 1.44 8.9 4.0 0.7 53.0 5.3 1.3
Total - 44.2 5.54 1.44 8.9 4.0 0.7 53.0 5.3 1.3
Terramin Share 65% 28.7 5.54 1.44 5.8 4.0 0.7 34.5 5.3 1.3
1 January 2018 Tala Hamza Resource Estimate prepared and reported in accordance with the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore
Reserves, December 2012 (JORC Code 2012).
2 Resource Estimate assumes the selective mining method of Underhand Drift and Fill.
3 Resource classification; Indicated - drill spacing <75 m, Inferred – drill spacing +75m.
4 Zinc Equivalence formula %ZnEq = %Zn% + %0.856 Pb.
5 Estimated at a 3.0% ZnEq cut off within the 1% lead + zinc outline.
6 The 2018 Resource is inclusive of Reserves
Tala Hamza Resource
34
Annex: Tala Hamza Resources & Reserves
2010 Reserve
Tala Hamza
Terramin
Interest (%)
Probable Reserve Total Reserve
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tala Hamza - 38.10 4.78 1.36 38.10 4.78 1.36
Total - 38.10 4.78 1.36 38.10 4.78 1.36
Terramin Share 65% 24.80 4.78 1.36 24.80 4.78 1.36
1 2010 Ore Reserves reported under JORC-2004
2 Reserves estimated based on Block Caving Mining Method
3 Total extraction included 46.8Mt, less 6.9Mt waste material separated and 1.8Mt Inferred or unclassified material
4 Cut-off grade was 2.5% ZnEq
1 2018 Ore Reserves Estimate is reported in accordance with JORC-2012
2 Designs and schedules use the Underhand Drift and Fill method
3 Project cut-off grade is 4.5% Pb+Zn (approx. 4.4% ZnEq)
2018 Reserve
Tala Hamza
Terramin
Interest (%)
Proved Reserves Probable Reserves Total Reserves
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tonnes
(Mt)
Zn
(%)
Pb
(%)
Tala Hamza - - - - 25.9 6.3 1.8 25.9 6.3 1.8
Total - - - - 25.9 6.3 1.8 25.9 6.3 1.8
Terramin Share 65% - - - 16.8 6.3 1.8 16.8 6.3 1.8
Tala Hamza Resource
Top Related